This increased activity is supporting our objective of selling off Stonecrest Income & Opportunity Fund-1’s remaining assets and we have substantially decreased the amount of properties or loans in eviction or foreclosure. We have been able to sell a number of properties, land contracts and modified loans in the second quarter and have finished lengthy evictions for a number of higher value properties that are now going on the market.
With the second quarter distribution, the investors have received, on average, 80.1% of their capital account balance. The residual 19.9% will be returned over the next two quarters as we finish selling the remaining assets.
|Our featured property this quarter is a 1,502 sqft 3-bedroom, 2-bathroom, single family home built in 1956. The lot is 6,098 sqft. It is located at 5052 Sunny Spruce Terrace, Jacksonville, Florida.
- Purchase Price: $62,567
- Expenses: $25,735
- Sales Price $103,000
- Gross Profit: $14,698
|Performance Since Inception|
|Land Contracts Summary|
|Face Value of Notes||$4,339,855|
|Non-performing Notes Summary|
|Modified Notes Summary|